Capital investment firms

The State Capital Investment Company (SCIC) said it successfully sold capital in 22 firms in the first quarter this year, earning 844 billion VND (39.25 million USD). The sale was achieved at 3.3 times the book value. Hoang Nguyen Hoc, SCIC Deputy General Director, attributed the achievement to more flexible regulations related to divestment of State-owned enterprises (SOEs), which came into effect following a government Decision in 2013. After the decision to boost the process of divestment of non-core businesses at several SOEs was taken, the company had sold capital at 159 firms, earning 1.475 trillion VND (68.6 million USD), 2.5 times more than the book value. According to Hoc, 12 State-owned groups and corporations, such as the Vietnam Posts and Communications Group, Vietnam Maritime Corp, Sai Gon Trading Corp, and the Vietnam National Coal Mineral Industries Group also provided information to the SCIC and suggested it buy their non-core investments in the banking and insurance … [Read more...] about State capital investment company posts Q1 earnings

The Hanoitimes - Hanoi is seeking to set up its own capital investment company to support enterprises. Vietnam currently o­nly has o­ne capital investment company, the State Capital Investment Corporation (SCIC) to support the restructuring and economic reform of firms.
The SCIC manages the capital of hundreds of firms with a total portfolio market value of VND50 trillion (USD2.4 million). However, most of SCIC's revenue come from interest from banks and in 2012, deposits money reached VND19.6 trillion. Meanwhile, hundreds of medium and small-scaled firms are unable to access the preferential loans to maintain their operations. Hanoi authorities have submitted a proposal to establish its own capital investment company to the NA's Economic Committee. Vice chairman of the Hanoi People's Committee, Nguyen Huy Tuong, said they hoped to speed up the restructuring process by establishing a new company. Nine enterprises in the city have drafted their restructuring plans and five … [Read more...] about Hanoi wants to set up its own capital investment company

Investment Firms with Longest Track Record Operating in Vietnam Tend to Be Most Effective “In 2013, there are both strengths and weaknesses in terms of the foreign investment environment in which investors operate that actually influence investment outcomes in Vietnam recently,” said Mr Chris Freund, Founder and Managing Partner of Mekong Capital, in an interview with the Vietnam Business Forum. Huong Ly reports. What does Vietnam’s economic and foreign investment environment look like in 2013, from your point of view? Some highlights of strengths include fragmented retail and consumer markets that still provide plenty of room for consolidation and market share gains; Vietnamese spending power outside of HCMC and Hanoi is growing rapidly, driven in part by Vietnam’s competitiveness as an exporter of agricultural products such as rice, coffee, rubber, catfish and shrimp. Besides, Vietnam is at the beginning of a housing and infrastructure investment cycle, … [Read more...] about Investment Firms with Longest Track Record Operating in Vietnam Tend to Be Most Effective

The State Capital Investment Corporation (SCIC) expects to have assets of US$22.5 billion by 2020, it said at a ceremony marking its 10th founding anniversary in Ha Noi yesterday.
National Assembly Chairman Nguyen Sinh Hung and Deputy Prime Minister Vu Van Ninh attended the ceremony. — VNA/VNS Photo Nhan Sang
HA NOI (Biz Hub) — The State Capital Investment Corporation (SCIC) expects to have assets of US$22.5 billion by 2020, it said at a ceremony marking its 10th founding anniversary in Ha Noi yesterday. By 2030, it is set to develop into a regional-scale financial corporation that manages a combined $46 billion. National Assembly Chairman Nguyen Sinh Hung and Deputy Prime Minister Vu Van Ninh attended the ceremony. Looking back at the past 10 years, the SCIC exercised its State ownership representation rights in around 1,000 enterprises worth more than VND8.7 trillion ($395.4 million), including six equitised corporations. At the PM's request, an additional 20 … [Read more...] about State investment firm sets assets target